There are several words in the NASCAR lexicon that fans probably wish to never hear again. Words like “encumbered” and “waiver” are probably high on that list.
Add “charter agreement” to that ever-expanding tally, as another big step in the year-long charter negotiations came to light on Saturday (Sept. 7).
This time, the update isn’t about negotiations. It’s about a done deal.
NASCAR and its Cup Series race teams have reportedly come to an agreement over the next iteration of their charters, a seven-year extension which will run through 2031. The contract length lines up with the next media rights deal, which also lasts through 2031.
According to multiple sources inside the garage, a midnight deadline on Friday night (well, technically Saturday morning) from NASCAR kicked team owners into high gear on signing the deal. Almost every team owner has reportedly signed the agreement.
There is one noteworthy holdout, though. 23XI Racing has outright stated that it has not signed anything, citing it “did not have an opportunity to fairly bargain for a new charter contract.”
23XI is reportedly not alone in this holdout, as Front Row Motorsports has also been mentioned along with them. However, FRM has not put out any statement to confirm others’ reporting.
Whatever FRM’s status is, they pale in comparison to 23XI. This year’s regular season Cup champion holding out is a major, major development for two reasons: its co-owners.
First, there’s Denny Hamlin. Hamlin has been extremely vocal about the charter negotiations from the start, among other things he isn’t afraid to speak up about. The three-time Daytona 500 winner is the second oldest Cup Series driver behind Joe Gibbs Racing teammate Martin Truex Jr., and is top five in most starts among active drivers, so he has both experience and respect inside the garage.
As the 43-year-old has risen from hotshot rookie to consistent veteran, he has become less afraid to speak out for what he believes is right. His own podcast, Actions Detrimental, is a must-listen inside the industry and helped build his influence within the sport.
Now, he’s trying to use up that cache… by punching back on what he believes is NASCAR strong-arming teams into a deal.
On Saturday, Hamlin was somewhat measured in person, refusing to elaborate on why 23XI refused to sign beyond the team’s official statement.